Public Employees Retirement Association of Colorado Sells 9,117 Shares of Occidental Petroleum Co. (NYSE:OXY)

Public Employees Retirement Association of Colorado lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 9.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,929 shares of the oil and gas producer's stock after selling 9,117 shares during the period. Public Employees Retirement Association of Colorado's holdings in Occidental Petroleum were worth $4,147,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in Occidental Petroleum in the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter worth about $27,000. VSM Wealth Advisory LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at about $40,000. Finally, Millstone Evans Group LLC purchased a new stake in Occidental Petroleum in the fourth quarter worth about $42,000. Institutional investors own 88.70% of the company's stock.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citigroup reduced their target price on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Susquehanna decreased their price objective on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Piper Sandler reduced their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group lowered shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Finally, Scotiabank lowered shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective on the stock. in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $54.19.

Occidental Petroleum Price Performance

NYSE:OXY traded up $1.05 during trading hours on Thursday, hitting $40.46. 10,661,866 shares of the stock traded hands, compared to its average volume of 10,897,678. The company has a market cap of $38.03 billion, a price-to-earnings ratio of 16.58 and a beta of 1.02. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $65.78. The stock has a 50 day moving average price of $44.07 and a 200 day moving average price of $47.82. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.37%. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.34%.

Occidental Petroleum Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.